Turbotax generating incorrect Form 8606

Forum|Forum|3 years ago
April 18, 2023
1 reply
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Similar to last year Turbotax is generating incorrect form 8606.I am using premier online version. I entered 1099-R details, followed prompts and selected the non taxable options. The total basis is being incorrectly reported.This happened last year as well but I noticed this only this year.I've filed an amendment for last year but I want to make sure I file this year's form 8606 correctly.

I cannot access the form to edit and fix it. Just before filing I can view all the forms and I see the issue.How can I fix this? In the below image, line 13 should be 0 and total basis should be 18,000.

TurboTax Premier Online

fanfare

Level 15

what is your 1099-R about ?

what is the code in Box 7 ?

@vikas_217

vikas_217Author

Level 2

@fanfare Code is 2.

DanaB27

Level 15

If you made a distribution or conversion from your traditional IRA then your basis will be used and reduce the amount of basis left in the traditional IRA.

Can you please provide more details about your situation?

@vikas_217

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